Analog Devices, Inc. 401(k) Review & Grade
Analog Devices, Inc. the Investment Partnership Plan
Wilmington, MAManufacturing6,860 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$10,781Employer $ per active participant
$14,663Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$4.3BNet plan assets, end of year
$381,345Average balance per account
Score breakdown
- Employer generosity47.9 / 5096th percentile for employer $ per participant
- Low cost24.3 / 2597th percentile for low admin cost vs. same-size plans
- Employee saving14.3 / 1595th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score94 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 96th |
| Lower admin cost | 97th |
| Employee saving | 95th |
| Peers that auto-enroll | 70% |
Red flags from the filing
Corrective distributions: the plan refunded $97,213 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Analog Devices put in about $10,781 per active participant, more than the typical peer ($3,452). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $73,966,339 |
| Participant (employee) contributions | $100,595,870 |
| Other contributions (incl. rollovers in) | $12,427,281 |
| Administrative expenses paid from the plan | $460,974 |
| Other admin expenses | $254,902 |
| Benefits paid out | $384,260,708 |
| Net assets, start / end of year | $3.9B / $4.3B |
| Active participants, start / end of year | 6,957 / 6,764 |
| Participants with account balances | 11,372 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $210,984 reported compensation |
| Aon Investments USA Inc. | $177,902 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250919102747NAL0002947011001, received 2025-09-19, EIN 04-2348234, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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